Dredging Corporation of India Limited (DCI) has issued a formal postal ballot notice to shareholders for the approval of Shri Gaurav Dayal's appointment as Additional Director, following the earlier board approval through Resolution by Circulation.

Postal Ballot Notice Details

The company has officially communicated to stock exchanges regarding the postal ballot process for formal shareholder approval. The notice, dated January 2, 2026, outlines the complete procedure for electronic voting on the director appointment.

Director Appointment Details

Shri Gaurav Dayal, IAS, was initially appointed as Additional Director (Promoter-Non Executive) through board resolution on November 7, 2025. The postal ballot seeks formal shareholder approval for his regular appointment as Director.

Professional Background

Shri Gaurav Dayal brings over two decades of administrative experience to DCI's board. His distinguished career includes serving as Secretary (Home & Vigilance) in Uttar Pradesh and Divisional Commissioner of Ayodhya, where he played a pivotal role in the city's transformation into a global religious tourism destination.

E-voting Process

The company has engaged National Securities Depository Limited (NSDL) and KFin Technologies Limited to facilitate the remote e-voting process. Shareholders can cast their votes electronically through multiple platforms including depository websites and the company's designated e-voting portal.

Regulatory Compliance

DCI has confirmed compliance with all regulatory requirements under the Companies Act, 2013, SEBI (LODR) Regulations 2015, and other applicable provisions. The company has duly informed both BSE (Scrip Code: 523618) and NSE about the postal ballot process as per Regulation 30 requirements.

The resolution, if approved by shareholders, will be deemed passed on February 2, 2026, the last date of e-voting, formally completing Shri Gaurav Dayal's appointment to DCI's board of directors.

Dredging Corporation of India (DCI) witnessed a significant surge in its stock price, jumping 18% following a series of strategic moves that promise to reshape the company's future. The state-owned enterprise has inked 22 Memorandums of Understanding (MoUs) worth ₹17,645 crore with 16 organisations during India Maritime Week, signaling a robust expansion of its operations.

MoUs and Market Impact

The value of these MoUs represents nearly seven times DCI's current market capitalisation of ₹2,500 crore, underlining the potential impact on the company's future growth. The agreements span a period of two to five years and involve dredging services for major ports across India.

Government-Backed Modernisation Initiative

Adding to the positive momentum, the government has announced a substantial ₹4,000 crore investment for the modernisation of DCI. This initiative includes:

• Construction of 11 new dredgers
• Upgradation of the existing fleet

Market Performance

The stock's performance has been noteworthy:

Strategic Implications

DCI expects these developments to yield significant benefits:

1. Increased market share in the dredging sector
2. Strengthened position within the industry

The combination of extensive MoUs and the modernisation plan positions DCI for potential growth and improved operational capabilities in the coming years.

As the dredging industry plays a crucial role in maintaining and developing port infrastructure, these agreements and investments may have broader implications for India's maritime sector and trade capabilities.